Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1887-03-05

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From tho Philadelphia Lsdsee.
The BwttdiNe AssoosdesoH ava noMs
yoSrWai quotes an Experienced omoef N ue
soclstiss which the Josryat repfsssnu = ~
iuR that these organisations Wore never more
prusnerous thsu q the present time A. u h
we'll known that they aro leading money q
stx psr cont Interest, and sometimes len,
without premiums, this statement looks st
ART s,sht like mistake or ~ sxaggOsA 10,
Tor II u we'll known that The eocioties ~ nos
making % large per cent Of peoam - they
d,d SeW years aga, and that they aro ounae.
a,,ently, running longer eoema Bus - Cd
operative enterprises for tho saving OF money
and to enable the members 70 ony homes ior
never more prosperous The real purposes
and advantages Of building associations ere
never soen 10 bettsr advantage than when
the money market 10 IN such condition -
They were no. dealgned n bs money. making
organ Q stioos In tho ordinary sens. Being
strictly 90 operative and dealing only with
their own mentors, thay cannot, IN fs0t,
mako extraordinary profits except at the 81
pense Of . ieW Of their members compelled
BY the eaisencles Of their private busineas TO
borrow money at high Prs,niume when
the demand for money has fallen OF 20 that
only very ANAL premiums arc required 20
determine priority of bids, or when thsre "a
MUM, the societies, II they can keep their
money investsd, are fulAliing thsir pafpose
In the best possible way and with tho greet'
est security 10 oil the membelA
term within reasonable limita, makes little
n any difference tn tho borrower who gets his
money at the average rata paid by all osher
borrowera Fer tho long torn he pays
smaller amount psr month tor the short
term larger amonnt, and the general roault
to the Individual borrower IN approximately
the aame In eith0T case. but tho long term
10 preferable In most cases - involving less
risk of failure To tho individual and les,
rink Of lo-s tn the society. The carly
feature ~ th,is enterprise much more
clearly than ihose now In existence.
They we're for the most part clubs OF intimate
friends, who put thsir money together for
the sake Of saving, and who kept themselves
closeiy informed ~ TO all the business oi ths
society. But building societies have In these
days becone more like private corporations
managed by q few active etock holders, 10
whom the other Investors and borrowers arc
personally unknown, and tho latter are con-
tent to pay In their money, and give scarcely
Q thought to tho business. Too rules arc su b.
stantially the same - those that governed
the organizations of half . century ago but the
changed social conditions which havo trans
formed PhiiAdsl phiA from an aggregation Of
small villages 20 . city Of . milton inhabi.
tants have had their natural eject on building
svHAn
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